Brokers Issue Forecasts for Sage Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Equities research analysts at Wedbush raised their Q3 2024 earnings estimates for Sage Therapeutics in a research report issued on Thursday, August 1st. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will post earnings of ($1.63) per share for the quarter, up from their prior estimate of ($1.85). Wedbush currently has a “Neutral” rating and a $24.00 price target on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.44) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.62) EPS, FY2024 earnings at ($6.75) EPS, Q1 2025 earnings at ($1.52) EPS, Q2 2025 earnings at ($1.50) EPS, Q3 2025 earnings at ($1.51) EPS, Q4 2025 earnings at ($1.49) EPS, FY2025 earnings at ($6.02) EPS, FY2026 earnings at ($5.32) EPS, FY2027 earnings at ($2.24) EPS and FY2028 earnings at ($1.67) EPS.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.02). Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. During the same period in the previous year, the firm posted ($2.68) EPS. Sage Therapeutics’s revenue for the quarter was up 249.8% on a year-over-year basis.

A number of other brokerages also recently weighed in on SAGE. TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $16.00 to $10.00 in a report on Tuesday, July 30th. HC Wainwright reiterated a “neutral” rating and set a $25.00 target price on shares of Sage Therapeutics in a research note on Friday, August 2nd. Oppenheimer dropped their price objective on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Citigroup assumed coverage on Sage Therapeutics in a research note on Wednesday, May 29th. They issued a “sell” rating and a $8.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and a consensus target price of $33.15.

Sage Therapeutics Stock Down 4.8 %

Shares of Sage Therapeutics stock opened at $8.53 on Monday. The business has a 50-day moving average price of $11.03 and a 200 day moving average price of $15.88. Sage Therapeutics has a fifty-two week low of $8.51 and a fifty-two week high of $28.26. The firm has a market cap of $520.76 million, a P/E ratio of -1.02 and a beta of 0.90.

Institutional Trading of Sage Therapeutics

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC increased its stake in shares of Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares during the period. Rhumbline Advisers lifted its stake in Sage Therapeutics by 17.5% during the second quarter. Rhumbline Advisers now owns 91,002 shares of the biopharmaceutical company’s stock valued at $988,000 after purchasing an additional 13,573 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Sage Therapeutics by 2.6% during the second quarter. Pinnacle Associates Ltd. now owns 293,251 shares of the biopharmaceutical company’s stock worth $3,185,000 after buying an additional 7,334 shares in the last quarter. Bank of New York Mellon Corp grew its position in Sage Therapeutics by 20.8% in the second quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock worth $2,376,000 after buying an additional 37,691 shares during the last quarter. Finally, Easterly Investment Partners LLC increased its holdings in shares of Sage Therapeutics by 24.6% in the second quarter. Easterly Investment Partners LLC now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,483,000 after buying an additional 27,000 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

Sage Therapeutics Company Profile

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.